I have been turned down for credit. How do I find out why?

Before agreeing to lend you money, we will check your ability to repay the loan. This is likely to involve a number of questions about your financial situation including your income, whether you are employed or self employed, the income of your partner, and details of any existing debts or loans.

We will also carry out a credit check to look at how you have dealt with previous debt and whether you have any judgements or defaults outstanding for debts that you have failed to repay on time. We will do this with a Credit Reference Agency, such as Equifax (opens in a new window) or Experian (opens in a new window).

If the loan is refused because of a poor search result then you can apply to these agencies to ensure that the information they hold on file for you is accurate, and you can have any errors amended so that any future lender has more accurate information.